BASING YOUR BUSINESS in a shopping mall has certain advantages over renting space in a strip mall or in a traditional retail district. A mall has built-in foot traffic, good parking, and a mallwide marketing budget. It’s best to work with an experienced real estate broker who represents many malls in your area. Shop carefully; renting space is costly, and you don’t want to be stuck in the wrong place. When you go out looking, consider the following:
? How much space will you need for your sales and storage
areas?
? What kinds of businesses are operating around you? Are
they competitive or complimentary?
? How responsive is the management company to tenants?
Speak to other small retailers in the mall to find out.
? What hours is the mall open on weekdays? Weekends?
Holidays?
? Do you like the feeling of the place? Can you see yourself
working here every day? Visit the mall at different times
of the day and night to check foot traffic and parking
availability.
? How many arrests for shoplifting were made in the recent
months? Mugging? Vandalism in the parking lot? Check
with the local police department to determine the safety
and security of the mall.
? Will you be paying for utilities? Do you have to pay for all
interior improvements? Can you sublease the space to
another business? Make sure you understand exactly what
your lease includes and sign the shortest lease possible to
give yourself an out if your business fails.

Description
Thinking of starting a business or raising money to expand an existing one? This popular book will show you how to write the business plan and loan package necessary to finance your business and make it work.

With How to Write a Business Plan, you’ll learn how to:

* evaluate the profitability of your business idea
* estimate operating expenses
* prepare cash flow
* create profit and loss forecasts
* determine assets, liabilities and net worth
* find potential sources of financing (up-to-date sources provided)
* think first before borrowing from friends and relatives
* present your plan to lenders and investors

How to Write a Business Plan now provides a CD-ROM with spreadsheets that help you determine and forecast cash flow, financial statements, sales revenue, and profit and loss. It also provides three sample business plans you can modify for your own use.

This edition is completely updated, providing all-new resources, both online and off.

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Too many entrepreneurs send out bum business plans and wonder why they never get funding. Remember this: Your business plan has less than a minute to catch the eye of a serious investor.  They’ll likely end up in the trash bin as I interviewed a few Private Investors in our area.

He said that a well-written business plan will stand out from the pack. He looks for succinctly written plans
printed in an easy-to-read type font. Sherwin, who read hundreds of business plans each year, said: “The lighter, the better. I always leave the weighty, two-pound ones until last.”

Sherwin said that although you’ll need a detailed company history, marketing summary, and management biographies, the most important element is the executive summary. It should be clear and concise, yet comprehensive.

Your plan should also explain the benefits of investing in your company rather than competing firms. Consider the investor’s perspective and include all the perks beyond making money. For instance, if your product is really popular, your investors will benefit from the press coverage it generates. Some investors
like to be invited to glitzy parties and industry trade shows when they have money in a high-profile deal. List all specifics that will make your company more attractive to investors. Good products and great writing aside, luck and personal contacts play a significant role in raising capital.

Timing is essential. Your company has to be poised for growth to appeal to venture capitalists. Because people lend money to people, not companies, picky investors put a lot of weight on where the deal came
from. “The source of the deal is very important to a venture capitalist.

So if you want your business plan to land on the right desks, take advantage of every possible contact. Attorneys, accountants, and successful business people can often help you get your business plan to the appropriate investor. Then it’s up to your plan to be a magnet for money.